Sales of new single-family houses in June were at a seasonally adjusted annual rate of 610,000, a 0.8 percent increase compared with the May rate of 605,000 and a 9.1 percent increase compared with the June 2016 rate of 559,000, according to the U.S. Census Bureau.
"The month's sales report is consistent with our forecast, and we should see further gains throughout the year as the labor market continues to strengthen," said NAHB Senior Economist Michael Neal in a statement. "While new home inventory rose slightly in June, it remains tight as builders face lot and labor shortages and increases in building material costs."
The median sales price for new houses sold in June was $310,800, down 3.3 percent from June 2016’s median price of $321,600.
